Gold Stays Low Despite China Buying – Wall Street Journal

HONG KONG—China’s stock-market turmoil this summer has prompted a rush of gold buying by the world’s No.1 consumer of the shiny metal, but prices are still hovering near five-year lows because investors worry the commodity, denominated in dollars, will become more expensive when the U.S. Federal Reserve raises rates.

Withdrawals of gold from the Shanghai Gold Exchange—a barometer of Chinese investment and retail demand—have reached…